WHAT THE OTHER PAPERS SAY THIS MORNING
FINANCIAL TIMES
Airline levy could aid UK border
Two Democratic senators have turned up the political pressure on News Corp, reviving questions about whether a scandal at Rupert Murdoch’s UK newspapers could jump the Atlantic. Sen Jay Rockefeller of West Virginia has written to Lord Justice Leveson asking for any evidence that “troubling and sometimes criminal conduct” had occurred in the US or involved US citizens.
Squeeze on banks hits project finance
The government’s plans to invigorate the recession-hit economy by attracting private capital into big infrastructure projects are being jeopardised by a sharp slowdown of the project finance market, used to fund railways, hospitals, airports and power plants. Senior bankers say the traditional project finance model – using long-term, low-cost loans secured by the income stream of the underlying assets – is in effect broken because of shrinking bank finance and regulatory pressures.
Nokia missed smartphone revolution
Nokia will launch a range of tablets and “hybrid” smart mobile devices as it seeks to turn round the fortunes of its ailing handset business, chairman Jorma Ollila told the FT.
THE TIMES
Tesco tempts savers with new bond
Tesco Bank is again cashing in on the public’s desperation for inflation-beating yields by launching an 8½-year bond that will pay out 5 per cent a year in interest.
Flu camp catches the flotation bug
The operator of a “flu camp”, in which volunteers are deliberately infected with the sniffles, is going public in a £33m flotation that will raise money to buy thousands of vials of the influenza virus. The stake held by chair David Norwood will be valued at £2.6m in the offering.
The Daily Telegraph
Justify your salary, watchdog tells MPs
MPs should justify their £65,738 a year salaries, the head of the Commons’ expenses watchdog has said. Sir Ian Kennedy, the head of the Independent Parliamentary Standards Authority, made the comments as he launched a wide-ranging consultation on MPs’ pay.
£90bn of government projects at risk
A fifth of the Government’s biggest projects are in danger of over-running, over-spending or failing outright, a Whitehall audit has found.
THE WALL STREET JOURNAL
Gingrich formally exits 2012 race
Newt Gingrich said he is ending his run for president, but the former House speaker said he plans to remain a force in the campaign. But his praise for Mitt Romney, who he has conceded will be the Republican nominee and has told he will eventually endorse, was at best tepid.
S&P raises Greece’s credit rating
Standard & Poor’s said yesterday it raised Greece’s credit rating to CCC from SD (selective default) after the country completed its distressed debt exchange.